Running a webshop is fun and it often requires you to be creative. What kind of special offers will you set up this week? Which product needs more attention and how will you do it? One of the many aspects of running a webshop is monitoring and research. A competitor price tracker does it for you.
You always need to monitor the market, find out what strategies your competitors employ and be inspired by their successful campaigns. You need to do research on how they set up their pricing strategies for which product and why it works (or why not). This is a lot of work.
This is where a competitor price tracker comes in. It guarantees an edge in competition pricing.
No more manual searching
With a competitor price tracker, you’re able to automate the entire price tracking process. From now on, you’ll have all the prices from all your competitors always at just one click away! A competitor price tracker gives insight in which products are sold for which prices. It makes it easy to find new competitors in the market. All this data will give you insight in what positions in the market are not yet satisfied.
For example, the data from the competitor price tracker might show that ALL your competitors have the same strategy: they’re all price fighters and strive to be the cheapest. Why don’t you try to be the ‘exclusive brand’ in the market. Make sure your products are distinguished, give them a luxury wrap, set up a great customer service and increase your prices with 75%! Just one example of the beneficial insights a competitor price tracker offers.
A competitor price tracker provides you with great new insights and saves you a lot of work. You can track every item you sell on your webshop. The competitor price tracker will find every supplier of that specific item and you’ll see where you stand with your price. You might find competition that offers an item for a unbelievably low price. Your competitor might have a different supplier that is cheaper than your current supplier… Or you might find a great substitute for an item that just isn’t selling on your webstore. All that data, automated and accessible in one dashboard.
How does a competitor price tracker work?
Easy, with a competitor price tracker like Pricesearch, you simply enter the GTIN/EAN code of an item in your webstore and save it. The competitor price tracker starts scraping the entire internet. It will find every supplier that offers an item with the same EAN code. It provides you:
- The name of the item (different webstores use different names);
- The price your competition uses;
- The URL to that item on your competitor’s webstore;
- The difference between your and his/her price.
You can even track comparable items, so you’ll know if there are substitutes that do better or that compete with your household products.
With a competitor price tracker like Pricesearch, you’ll get extra’s. One of the functionalities of Pricesearch is the ability to automate your own pricing. You can set a limit to how low your prices may be, and Pricesearch will adjust your prices according to the competition in the market. This makes it easier to, for example, always be the cheapest. It makes running your webstore a lot easier.
You can try Pricesearch free for 14 days, to find out if this competitor price tracker tool has value for your webstore and way of working. Want to know about all the possibilities? Start your free trial and find out for yourself.